The company's charge-card business has been hurt by increased competition from banks and other credit-card issuers.

At the same time, executives say they are exploring a number of joint business operations and other efforts to help expand their charge-card business.

About 65.5 percent of American Express's 1989 profits came from travel-related services, largely the charge-card business.

After an unexpectedly troubled first quarter, in which American Express's charge-card business fell 25 percent, the latest overall performance was better than Wall Street expectations.

The charge-card business at the heart of the company is losing market share to credit cards issued at lower fees.

Within American Express, however, he is better known for being one of the few longtime executives left at the company who worked his way up through the charge-card business.

And as the consumer credit market has boomed, the charge-card business has boomed with it.

But a company might also like to buy Neiman's charge-card business to have access to the list of its best customers - with, presumably, information on exactly how much they spend each year.

Travel Related Services, the charge-card business, accounted for 33 percent of revenue but more than 70 percent of operating profit.

It also offered a gloomy forecast for its corporate charge-card business.